Theorem: Interview With Founder & CEO Jay Kulkarni About The Digital Marketing Services Company – Pulse 2.0

Theorem is a global digital marketing services firm that provides flexible, full-service creative, media, and technical solutions to help major brands grow and improve marketing performance. Pulse 2.0 interviewed Theorem founder and CEO Jay Kulkarni to gain a deeper understanding of the company.
Jay Kulkarni’s Background

Could you tell me more about your background? Kulkarni said:
“I’ve spent over two decades as a veteran in the online advertising and digital marketing space, specializing in product management and strategic growth. Currently, as the founder and CEO of Theorem, Inc., I’ve been the driving force behind the company’s significant expansion since its inception in 2002. Before founding Theorem, I was one of the earliest staffers at DoubleClick, where I headed up product management for areas like advertiser solutions and email platforms. Being there, I saw firsthand just how fast the internet advertising world was taking off. It became clear to me that brands and businesses would soon desperately need specialized tech and operational support to keep up with their digital marketing. That realization was the spark that led me to start Theorem, and it’s what fuels my passion for digging into cutting-edge technologies and innovations to this day.”
“As a C-level executive, my primary role is to set the ultimate end game – defining where the company is headed, setting the tone and energy (culture, ways of working, investing in teams) to get there, and finally, making the necessary resources available for those teams to achieve that overarching goal. It’s about orchestrating the entire symphony, not just conducting a single section.”
Favorite Memory
What has been your favorite memory working for the company so far? Kulkarni reflected:
“There are two standout memories for me. First, it was taking our revenue operations services, which are crucial for our largest clients, and futureproofing them by incubating Upward. Upward is our automation solution specifically designed to revolutionize ad operations for media and publishing brands. It’s a customizable, “white-glove” service that leverages automation, AI, and data analytics to streamline and optimize the entire order-to-cash (OTC) process within advertising. This move was pivotal because, while our services were needed, the way we were delivering them had become somewhat commoditized. The combination of Upward and human-in-the-loop not only future-proofs our approach but also unlocks massive new market opportunities across media, entertainment, streaming, audio, video, retail, media networks, and publishing.”
“My second favorite memory is evolving our platform expertise in Marketing Cloud to incorporate video commerce. This is similar to Upward in that it future proofs our capabilities and opens entirely new ways of doing business. It also allows us to expand into new industry verticals that wouldn’t have been accessible with just our legacy marketing platform expertise.”
Core Products
What are the company’s core products and features? Kulkarni explained:
“Theorem is a global leader in providing digital marketing, media, and technology solutions. Our core offerings are designed to help brands create process efficiencies, boost profitability, and revolutionize workflows at scale.”
“In the realm of digital marketing, we focus on end-to-end solutions that drive integration, performance, and personalization. This includes strategy consulting, customer journey planning (from acquisition to retention), data and insights (custom dashboarding, data integration, and analysis), and optimizing creative marketing strategies across marketplaces. We help businesses solve marketplace and commerce problems, customer acquisition issues, and engagement challenges.”
“For media and entertainment brands, our solutions help scale monetized ad offerings and perfect audience targeting. We provide media operations and management solutions that streamline processes, reduce inefficiencies, and improve profitability through leveraging technology, automation, data analytics, and campaign creative development. This includes ad trafficking, audience targeting, and campaign management.”
“Our technology solutions are designed to ensure businesses are future-ready by implementing customized automation into existing processes. This eliminates manual data entry and other repetitive work, freeing talent to focus on higher-value tasks. Our advanced, AI-powered tools are part of our new Upward offerings. Upward transforms ad operations by making common pain points, like make-goods obsolete, and enables organizations to scale ad operation workflows via tailored automation. It’s a customizable, white-glove solution that speeds up order cycles, automates manual processes, and allows teams to focus on creative production, business development, and strategic thinking.”
Challenges Faced
Have you faced any challenges in your sector of work recently? Kulkarni acknowledged:
“Coming out of the COVID pandemic, we faced a stark realization: many of our traditional services were becoming commoditized. The landscape of streaming, publishing, and networks was fundamentally disrupted. For instance, in 2020, digital advertising spend globally actually grew by 8% while traditional advertising saw significant declines. This presented a significant challenge for Theorem, forcing us to ask: ‘How do we truly future proof our business?’”
“We’re now focused on three key areas. Firstly, we’re diligently growing our legacy by investing in a robust technology strategy and communicating that roadmap to our existing customers. Secondly, and perhaps most crucially, we’re heavily investing in ‘cross-scaling and upscaling’ to future proof the business, not just alongside, but with our employees. We’ve already seen tremendous traction here, with 50-60% of our top customers having already committed to migrating to our more future-forward offerings in the next 12 months.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Kulkarni noted:
“Our technology stack has become incredibly current, largely driven by the development of Upward. Upward itself is cloud-native and leverages cutting edge components like machine learning, robotic process automation, and AI. This evolution in our technology stack has, in turn, transformed how we price our services and approach the market.”
Significant Milestones
What have been some of the company’s most significant milestones? Kulkarni cited:
“Our way of working is defined by a ‘people, process, and purpose’ philosophy, and our key milestones truly highlight this. From a purpose perspective, a major achievement has been successfully future proofing both our content and commerce offerings as it’s been fundamental to how we’ve evolved. Then there’s the people aspect. A significant milestone for us is how we’ve really leveraged, cross-skilled, and upskilled so many of our existing teams. These folks have been central to developing Upward and bringing our video commerce initiatives to market. It’s a real testament to our investment in our own teams and our commitment to bringing them along on this journey. Our dedication to our people is something we’re incredibly proud of, and it’s been validated by recent accolades like being named #3 Best Place to Work in America in 2024 and a continued nomination in 2025.”
Customer Success Stories
Can you share any specific customer success stories? Kulkarni highlighted:
“Our client, one of the largest audio streaming brands, is a prime example of how we’ve future-proofed a client by automating their operations with Upward. Prior to Upward, the company’s ad operations were characterized by manual processes and extensive reliance on spreadsheets. Our Upward solution streamlined their entire order-to-cash process, significantly reducing manual tasks and enabling their team to shift focus towards strategic, revenue-driving work. They’re a truly valued client, and they’ve been fantastic evangelists for the solution.”
Differentiation From The Competition
What differentiates the company from its competition? Kulkarni affirmed:
“What differentiates Theorem in today’s dynamic market is our proactive approach to ensuring the long-term relevance and adaptability of our services. We’re actively migrating a significant portion of our business towards tech and automation driven solutions. You can see this clearly with the rapid adoption of our new Upward offerings by our top clients. This is a suite of advanced, AI-powered tools designed to streamline workflows and enhance decision-making. We really stand out because we’re not just reacting to market changes; we’re actively shaping our response, investing heavily in technology, and upskilling our teams. Our story is one of adaptation and forward thinking, a testament to our commitment to not just survive but thrive in a rapidly changing digital landscape.”
Future Company Goals
What are some of the company’s future goals? Kulkarni concluded:
“Our sights are set on significant growth. Looking ahead, a major goal for us is to expand our service offerings into the EMEA and APAC regions. We see tremendous potential in bringing our innovative solutions, especially those like Upward and our video commerce capabilities, to new markets globally.”
 

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